$20 million in funds for Egyptian company for programs

Many Egyptian and foreign financial and investment corporations agreed on establishing the first data and programming company in Egypt with a capital of $20 million.

These corporations include the International Arab Bank (15%), the Arab Banking Company (15%), Faisal Egyptian Islamic Bank (15%), and Chipsy company for food industries (15%). Specialized Cypriot and US companies will also contribute in producing computers and programs as well as in the data industry.

The company will be named Data Technology Company, and it will aim at exporting computers software and qualifying specialized data programmers to serve foreign and Egyptian corporations.